Sid Consunji in, Frederick Dy out: Semirara Mining replaces Security Bank in PSE Index

The 30-member Philippine Stock Exchange (PSE) Index had a minor change in its annual review.

Frederick Dy’s Security Bank out? Consunji’s Semirara Mining hits 4-year high amid speculation of index comeback

The red-hot Semirara Mining and Power Corp. (SCC) of bilyoaryo Sid Consunji is among among PSE’s top blue chips after a two-year absence.

It replaced Security Bank (SECB) of bilyonaryo Frederick Dy which has been on the PSE Index since 2016.

The index change resulting the index review, from July 2021 to June 2022, will take effect on August 8.

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The review is based on a stock’s liquidity, market capitalization, and free float level as well as relevant financial benchmarks.

The next index review will impose a raise the free float benchmark from 15 percent to 20 percent.

The PSE also made several changes in its sectoral indices:

* Rizal Commercial Banking Corporation of bilyonaryo Helen Yuchengco Dee will join the financial index;

* Benguet Corporation of Speaker Martin Romualdez is set for inclusion in the mining and oil index;

* 8990 Holdings, Inc. and DDMP REIT, Inc. (DDMPR) will be inserted in the property index;

* Phinma Corporation, Shakey’s Pizza Asia Ventures, Inc., and Synergy Grid & Development Phils., Inc. will be part of the industrial index;

* AyalaLand Logistics Holdings Corp., DDMPR, SECB, and Union Bank of the Philippines will lumped in the midcap index in place of SCC, Cebu Air, Inc., DoubleDragon Corporation, and Filinvest Land, Inc.; and

* DDMPR, Filinvest REIT Corp., MREIT, Inc. and RL Commercial REIT, Inc. will be lodged in the dividend yield index in place of Robinsons Land Corp., Robinsons Retail Holdings, Inc., SECB, and Universal Robina Corp.